Secure Asset Management LLC raised its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 15.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,382 shares of the oil and gas company’s stock after acquiring an additional 593 shares during the quarter. Secure Asset Management LLC’s holdings in Chevron were worth $713,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Guinness Atkinson Asset Management Inc raised its holdings in shares of Chevron by 26.4% in the first quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock valued at $1,033,000 after buying an additional 1,326 shares during the last quarter. ACT Wealth Management LLC raised its holdings in shares of Chevron by 3.0% in the first quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 140 shares during the last quarter. FSB Premier Wealth Management Inc. raised its holdings in shares of Chevron by 3.6% in the first quarter. FSB Premier Wealth Management Inc. now owns 2,151 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 75 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in shares of Chevron by 26.6% in the first quarter. Coastal Investment Advisors Inc. now owns 14,020 shares of the oil and gas company’s stock valued at $2,283,000 after buying an additional 2,947 shares during the last quarter. Finally, MCIA Inc raised its holdings in shares of Chevron by 6.3% in the first quarter. MCIA Inc now owns 13,769 shares of the oil and gas company’s stock valued at $2,280,000 after buying an additional 822 shares during the last quarter. 65.89% of the stock is owned by institutional investors.
In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the transaction, the director now owns 3,543 shares of the company’s stock, valued at approximately $628,138.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Eimear P. Bonner sold 68,032 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $165.00, for a total value of $11,225,280.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 561,726 shares of company stock valued at $94,057,396. Insiders own 0.32% of the company’s stock.
A number of research firms recently issued reports on CVX. JPMorgan Chase & Co. cut Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price target for the company. in a report on Friday, March 11th. Wells Fargo & Company boosted their price objective on Chevron from $150.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 11th. Morgan Stanley dropped their price objective on Chevron from $188.00 to $185.00 and set an “equal weight” rating for the company in a report on Monday, June 6th. StockNews.com started coverage on Chevron in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Cowen dropped their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.24.
Shares of CVX opened at $146.51 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The stock has a 50 day simple moving average of $164.13 and a 200 day simple moving average of $150.85. Chevron Co. has a 52-week low of $92.86 and a 52-week high of $182.40. The firm has a market capitalization of $287.86 billion, a PE ratio of 13.77, a P/E/G ratio of 0.63 and a beta of 1.09.
Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The business had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 17.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Wednesday, May 18th. Chevron’s dividend payout ratio (DPR) is currently 53.38%.
About Chevron (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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